Sarepta Therapeutics Surges 20% On No News
Shares of Sarepta Therapeutics Inc (NASDAQ: SRPT) were trading higher by 20 percent at one point early Friday morning on no confirmed news reports.
Sarepta's investor relations website showed no new updates. Meanwhile, Twitter users were sharing various theories to explain the unexpected surge in Sarepta's stock.
As a reminder, the U.S. Food and Drug Administrated decided in late April that the company's drug for the treatment of Duchenne muscular dystrophy (DMD) was not effective. A final vote to approve or decline the drug, eteplirsen, is scheduled for May 26.
The stock traded recently at $18.99, up 7.9 percent in Friday's pre-market session.
I just realized $ZSPH and $SRPT share the same May 26 PDUFA date.
Not sure Twitter is capable of handling this.— Adam Feuerstein (@adamfeuerstein) May 12, 2016
$SRPT Or is this a good ol' fashion options expiration getting people worked up
— Shane Blackmon (@shaneblackmon) May 20, 2016
$SRPT could literally be someone hitting the "test" button lol
— The Daytrade™ (@d4ytrad3) May 20, 2016
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Posted-In: Duchenne Muscular Dystrophy eteplirsen Food and Drug AdministrationNews Health Care Pre-Market Outlook Movers General
